I think this post must be moved in the trading discussion section. Well where do we start, Resistance and Support levels are kinda the basics of Technical Analysis (This is where they based their Buy Low Sell High Technique) However a lot of us fail to identify both of them. Support and Resistance maybe identified as the invisible barriers both protecting and restricting the price action, respectively. Right now if you search "Bitcoin Chart" you will see that Bitcoin is on a major uptrend if you draw an invisible line below the price levels that will be your support line in which you can base your buy points on.
agree to your post btc is going into slow downtrend,this pump action is only to sell off rest at higher prices,since see kids like to post charts without realizing they look at 15min or 1 minute charts and its climbing for them when in reality it topped out before 1300,and with fork coming smart investors will let it go back up before dumping again.Since only way to make profit is buying low not close to all time high that makes one profit.